As a part of Southeast Asia expansion plan, Vietnam-based ride-hailing startup FastGo has officially started operation in Myanmar since December 28, 2018, as reported by VN Express. The expansion is also a result of the company’s joint venture with Burmese conglomerate Asia Sun Group.
“Myanmar is a promising market with the e-commerce, travel, and retail sectors in the country growing rapidly. We target the population of 50 million people in Myanmar with the on-demand transport model,” said CEO Nguyen Huu Tuat.
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Currently, FastGo focusses on major cities and provinces. Bringing the same business model it has applied in Vietnam, the company expects to hit two million users sign up and 100,000 drivers.
For Myanmar, FastGo claims to only take a fixed service cost from drivers and not commissions on each ride and guarantee them higher fares during rush hour and bad weather.
FastGo was launched in Vietnam last June and it hopes to make its service available in 20 cities in Vietnam and five other Southeast Asian markets, including the Philippines, Cambodia and Thailand, by the end of 2019.
Image Credit: FastGo